Lotte Versalis Elastomers new complex in South Korea

November 27, 2017

Lotte Versalis Elastomers, a 50:50 joint venture between Italys’s Versalis (Eni) and South Korean petrochemical firm Lotte Chemical have opened a new integrated industrial complex for the production of elastomers in Yeosu, South Korea. The company says the new plant has been built in a record time of 26 months.

The joint venture, established in 2013 with the aim of targeting growth in the Asian elastomers market, uses Versalis’ technology, industrial expertise and commercial network, as well as Lotte Chemical’s site integration, which ensures the availability of feedstocks and industrial facilities.

“The construction of the first industrial complex in Asia is an important milestone in Versalis’ international development strategy, which leverages valuable proprietary technologies. It also strengthens our leading position in the global elastomers market and other prospects for growth. We are excited to be working on this project with an established partner such as Lotte Chemical. By joining forces, both Versalis and Lotte Chemical are benefitting from important synergies.” says Versalis’ CEO, Daniele Ferrari.

Versalis is present in the Asia-Pacific region through its commercial units in Shanghai, Qingdao, Mumbai and Singapore.